Posts From Fintech News Indonesia
Indonesian E-Wallet OVO Launches Its First Fixed Income Product
Indonesian digital wallet OVO, has collaborated with financial marketplace Bareksa and Bahana TCW Investment Management to launch its first fixed income product. The Bahana MES Syariah Fund Kelas O is said to be offered exclusively on the OVO app as
Read MoreBezos-Backed E-Commerce Firm Ula Bags US$23.1 Million in Series B Extension
Indonesian B2B e-commerce marketplace Ula announced that it has secured an additional US$23.1 million funding in an extension of its Series B funding round from American investment firm Tiger Global. Binny Bansal, co-founder of Flipkart also participated to complete Ula’s
Read MoreIndonesian SME Lender Investree Secures US$10.5 Million in Debt Financing
Investree, an Indonesian B2B marketplace lending platform for Micro, Small and Medium Enterprises (MSMEs), announced that it has secured US$ 10.5 million in debt financing. The financing came from responsAbility Investments, a Swiss asset manager focused exclusively on sustainable investment
Read MoreSeamless, Strong Identity Verification Is Key for BNPL Firms to Flourish
Buy Now, Pay Later (BNPL) may be a relatively new product in the financial services scene, but for those companies in the lending game who offer this option, they’re onto a winner. To stay competitive, it is imperative that those
Read MoreBank Rakyat Indonesia Leverages Open Banking to Bolster BRImo App
As one of Indonesia’s oldest and largest bank, Bank Rakyat Indonesia (BRI) is always a step ahead in adapting and applying the latest technologies to create various digital platforms and applications to support its customers’ digital needs. This includes BRImo,
Read MoreAbu Dhabi Fund Leads GoTo Group’s Pre-IPO Fundraise With US$400 Million
Indonesia’s GoTo Group announced that a subsidiary of the Abu Dhabi Investment Authority (ADIA), a sovereign wealth fund owned by the Emirate of Abu Dhabi, will lead its pre-IPO fundraising with a US$400 million investment. The investment will be the
Read MoreIndonesia Fintech Report and Map 2020
Indonesia has the world’s 16th largest economy and is the world’s fourth most populous country with 274 million people, out of these 84% below the age of 54. With Internet penetration standing at 67% and financial inclusion remaining a key
Read MoreBooming Indonesian Digital Finance Sector to See Revenues Reach US$8.6B by 2025
Indonesia, the largest economy in Southeast Asia and the eighth largest in the world in terms of purchasing power parity, has become one of the fastest growing fintech markets in the region. By 2025, digital financial services revenues in Indonesia
Read MoreBuy Now, Pay Later Adoption Takes off in Indonesia
Buy now, pay later (BNPL), also referred to as paylater, has become one of the most popular payment options in Indonesia. After digital money (82.2%), it’s the second most used fintech product in the country, recording a penetration rate of
Read MoreIndonesia: An Insider’s View into ASEAN’s Fintech Crown Jewel
Indonesia’s fintech industry is entering a new era of growth and maturity, triggered by the COVID-19 pandemic, booming venture funding activity, and a proactive regulatory environment that has committed to fostering innovation to help improve financial inclusion, top executives from
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